Housing Trends of Baby Boomers

Most baby boomers prefer to stay in their own homes as they age, but an increasing number — more than 1.2 million households — plan to move to active lifestyle communities designed to meet their needs, according to a new study by the National Association of Home Builders (NAHB) and the MetLife Mature Market Institute (MMI). The NAHB estimates that baby boomers will represent one quarter of the U.S. population by 2010, and as they get closer to retirement this group will have a huge impact on housing trends.

The study also finds that a desire to be close to family plays a big role in most boomers’ moving decisions. While most homeowners in this age group were generally happy with their current home, residents of active-adult communities had the highest satisfaction rates. Also, those who were closest to age 65 and are not yet planning to retire are looking for a community close to their jobs or which allows them to transition into a work-from-home situation.

In Boston and Cambridge, we see a lot of baby boomers downsizing and enjoying the city lifestyle. Most are buying in luxury developments with services, elevators, garage parking and views.